CLEVELAND, OH -- (Marketwire) -- 12/13/12 -- Weinberg Capital Group (WCG) has partnered with The Riverside Company (Riverside) and Hicks Equity Partners (Hicks) to acquire Overton Chicago Gear Corporation (Overton), a manufacturer and distributor of large diameter, precision gears serving the wind power, energy exploration, mining, locomotive, marine and steel and steel processing industries. Overton is the first acquisition for H-D Advanced Manufacturing Company, a holding company formed by the partners to specialize in a wide variety of heavy-duty, precision-engineered parts.

With a history dating to 1888, Overton has built a global reputation for quality by meeting the demands of challenging industries. Customers within these industries require high precision parts that are durable and reliable enough to withstand harsh operating environments. Overton designs and manufactures custom helical, spur, herringbone, bevels, double enveloping worm, and other open or loose gears as well as gear boxes. The company employs more than 200 people at three manufacturing facilities in the Chicago area.

Based in Pittsburgh, H-D Advanced Manufacturing will be led by CEO Christopher DiSantis and CFO Dale Mikus. Mr. DiSantis brings 20 years of industrial management experience, most recently as CEO and President of Latrobe Specialty Metals. Mr. DiSantis also served as President and COO of Hawk Corporation. At Hawk Corporation, Mr. DiSantis partnered with WCG Principal Ronald E. Weinberg to build a global manufacturer of friction products for brakes, clutches and transmissions used in airplanes, trucks, construction and mining equipment, farm equipment, and recreational and performance automotive vehicles. In 1998 Hawk was taken public on the New York Stock Exchange trading under the symbol HWK. After more than 20 years of successful operation, Hawk was sold to Carlisle Companies, Inc. (NYSE: CSL) in December 2010 for $413 million.

"We are very pleased to once again be partnering with Chris DiSantis," stated Chip Weinberg, Managing Director & Principal at WCG. "Overton is a world class company and an excellent initial platform. Under Chris' leadership and with the assistance of our other partners we look forward to building a global leader in the precision machining of parts for extreme operating environments," added Mr. Weinberg.

WCG, Riverside and Hicks are actively seeking add-on opportunities for H-D Advanced Manufacturing in the gearing industry and within other heavy duty, precision-engineered component sectors.

About Weinberg Capital Group

WCG is a Cleveland, Ohio based private equity group whose principals consist of Ronald E. Weinberg, Ronald E. "Chip" Weinberg, Jr. and John Herman. WCG invests in well-positioned middle market companies. WCG focuses on firms where the current ownership and management reinvest in the transaction, and management remains in place, affording current shareholders and management an opportunity to achieve liquidity coupled with ownership continuity. WCG invests in companies throughout North America with annual revenue from $15 to $150 million and EBITDA ranging from $2 to $10 million. The firm's current portfolio covers a broad range of industries including manufacturing, business services, aviation services, financial services, consumer products, retail and value added distribution.

The majority of an organization’s revenues are dependent on suppliers, distributors and other third parties. But as Benjamin M. Lawsky, New York State’s Superintendent of Financial Services, points out: “Unfortunately, those third-party firms can provide a back-door entrance to hackers...

Conservation International (CI) in Arlington, Virginia uses new technology to pursue more data about what's going on in tropical forests and other ecosystems around the world.
As a non-profit, they have a goal of a sustainable planet, but we're going to learn how they've learned to m...

Do the ‘darker’ channels and means that exist for searching the web in anonymity ultimately spell doom for the wider march towards open data?
So-called ‘open data’ is supposed to be an instrument for breaking down information gaps across industries and letting companies share benchmar...

Technology changes at the speed of light. To say it can be hard to keep up is an understatement. For performance engineers, taking charge of your own continuing education is one of the most important things you can do to remain at the top of your game.

Knowledge management, in business terms, refers to saving, developing, sharing, and effectively using knowledge for the benefit of organization. It refers to a multi-disciplined approach of achieving organizational objectives by making the best use of knowledge.
Scientia potentia est ...